- The White House has repeatedly suggested the private sector can boost oil supply amid surging gas prices, but industry groups have countered that the administration has placed hurdles for new drilling.
- “Not every lease contains oil and natural gas, nor does every non-producing lease represent untapped resource potential,” American Petroleum Institute Senior Vice President of Policy, Economics and Regulatory Affairs Frank Macchiarola said during a media call Thursday. “Companies are in the business of finding and producing oil and gas and developing those leases.”
- “Because of the uncertainty of operating on federal lands, companies must build up a sufficient inventory of permits before rigs can be contracted to ensure the permits stay ahead of the rigs,” Kathleen Sgamma, the president of the Western Energy Alliance, said.
“How then can you comfort me with empty words, Since falsehood remains in your answers?” Job 21:34
The White House has repeatedly suggested the private sector can boost oil supply amid surging gas prices, but industry groups have countered that the administration has placed hurdles for new drilling.
The answer came in response to a question on why the White House had stopped short of pushing for greater domestic fossil fuel production amid rising energy costs. On Monday, nationwide gasoline prices hit an all-time high, topping $4.103 for the first time ever while oil prices — a large factor in determining gas prices — have surged in the wake of Russia’s invasion of Ukraine.
However, the unused drilling leases represent a fraction of the active permits …
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